Boyanov & Co., Kalo & Associates, and Hugh Owen of Go2Law have advised Albania Telecom Invest, a joint venture of entrepreneurs Spas Roussev and Elvin Guri, on its EUR 50 million acquisition of Telekom Albania from OTE (Deutsche Telekom). White & Case and Wolf Theiss advised the sellers on the deal, which remains subject to closing conditions, including the approval by the competent local authorities and financing, and is expected to be completed within the first half of 2019.
According to Wolf Theiss, "Telekom Albania, whose majority shareholder is OTE, operated as Albanian Mobile Communications until July 2015. The company was acquired by OTE Group back in 2000."
According to Boyanov & Co., the firm "advised ATI on the entire deal – participation in an auction organized by OTE, submission of a bid, legal due diligence (in cooperation with Kalo & Associates), negotiation of the sale and purchase agreement, escrow agreement, and set of other transaction documents, and negotiation of the financing of the deal by the First Investment Bank. Kalo & Associates advised ATI on the legal due diligence of Telekom Albania, on security for the financing and the following Albanian merger control process, and [on] other closing formalities."
The core Boyanov & Co. team on the deal consisted of Partner Damian Simeonov and Senior Associate Ralitsa Nedkova.
The Wolf Theiss team advising OTE on Albanian law matters included Partner Sokol Nako and Associate Kristaq Profkola.
The London-based White & Case team consisted of Partner Allan Taylor and Associates Edwina Daws and Erika Games.